Tianji Holdings, a Hong Kong-listed company, plans to invest HK$10 million to advance its Web3 sports intellectual property project

TechFlow, December 25 — According to a Hong Kong Stock Exchange announcement, Tianji Holdings, a listed company, released a supplementary announcement regarding its financing agreement, disclosing plans to allocate 16.6% (approximately HK$10 million) of the net proceeds from the subscription rights issue (about HK$60 million) toward expanding a sports intellectual property project based on Web3 and artificial intelligence. This includes developing and designing physical and digital intellectual property products related to La Liga clubs. The company also stated it will apply Web3 blockchain technology to put intellectual property "on-chain" and create tamper-proof, traceable digital identities for each IP product.

Earlier, Tianji Holdings announced plans to establish a joint venture with Xizulin Technology to undertake new consumer operations in sports IP economy under the Web3.0 model.